HUD spends nearly $3 billion to nation's public housing authorities to improve housing

Mar 24, 2009

Fannie Mae/Freddie Mac HVCC effective May 1, 2009 MortgagePress.comFannie Mae, Freddie Mac, appraisals, Home Valuation Code of Conduct, HVCC The Fannie Mae and Freddie Mac Home Valuation Code of Conduct (HVCC) becomes effective on May 1, 2009. All lenders, correspondent lenders, and servicers selling loans to Fannie Mae/Freddie Mac will be required to adhere to the Code. The Code of Conduct establishes: • Required use of the Market Conditions Addendum ( Fannie Mae form 1004MC/Freddie Mac form 71) • Appraiser independence safeguards • Requirement that the borrower receive a copy of the appraisal • Appraiser engagement restrictions • Prohibitions against improper influences on appraisers • Appraisal audit requirements • Independent Valuation Protection Institute For a copy of the HVCC click here.

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National Mortgage Professional

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Mar 24, 2009

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....